Usmanov increases his stake in Arsenal
Posted March 22, 2011 5:35 pm.
This article is more than 5 years old.
THE ASSOCIATED PRESS
LONDON — Russian businessman Alisher Usmanov has increased his stake in Premier League club Arsenal.
Red & White Holdings, which is jointly owned by Usmanov and his business associate Farhad Moshiri, says it has taken its holding from 26 per cent to “over 27 per cent.”
American investor Stan Kroenke remains the largest individual shareholder in Arsenal with 29.9 per cent.
Unlike Kroenke, Usmanov has not been invited onto the board of directors.
If either investor was to take their stakes to 30 per cent, he would have to make an offer for the remaining shares in Arsenal Holdings.
If either Kroenke or Usmanov manages to acquire more than 50 per cent of the shares, he would gain legal control of the club.
